JLP Asset Management LLC raised its stake in SBA Communications Co. (NASDAQ:SBAC) by 75.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 35,480 shares of the technology company’s stock after buying an additional 15,300 shares during the period. SBA Communications accounts for approximately 6.6% of JLP Asset Management LLC’s investment portfolio, making the stock its 5th largest position. JLP Asset Management LLC’s holdings in SBA Communications were worth $10,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its holdings in SBA Communications by 20.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,047,820 shares of the technology company’s stock worth $333,710,000 after purchasing an additional 174,568 shares during the period. IBM Retirement Fund increased its holdings in SBA Communications by 14.2% during the 4th quarter. IBM Retirement Fund now owns 4,106 shares of the technology company’s stock worth $1,158,000 after purchasing an additional 512 shares during the period. Great West Life Assurance Co. Can increased its holdings in SBA Communications by 8.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 124,685 shares of the technology company’s stock worth $39,649,000 after purchasing an additional 9,886 shares during the period. Nisa Investment Advisors LLC increased its holdings in SBA Communications by 1.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 98,690 shares of the technology company’s stock worth $27,843,000 after purchasing an additional 1,231 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in SBA Communications by 1.5% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 25,392 shares of the technology company’s stock worth $8,087,000 after purchasing an additional 366 shares during the period. Institutional investors own 93.90% of the company’s stock.

SBA Communications stock opened at $263.94 on Friday. SBA Communications Co. has a twelve month low of $205.20 and a twelve month high of $328.37. The stock has a 50 day moving average of $271.53 and a two-hundred day moving average of $293.28. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of -1,759.48 and a beta of 0.21.

SBAC has been the topic of a number of recent analyst reports. Raymond James dropped their price objective on SBA Communications from $366.00 to $327.00 and set an “outperform” rating on the stock in a report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on SBA Communications from $355.00 to $335.00 and set a “buy” rating on the stock in a report on Tuesday, December 22nd. Credit Suisse Group downgraded SBA Communications from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $365.00 to $291.00 in a report on Wednesday, February 3rd. JPMorgan Chase & Co. downgraded SBA Communications from an “overweight” rating to a “neutral” rating and set a $305.00 price objective on the stock. in a report on Monday, February 8th. Finally, Barclays upgraded SBA Communications from an “equal weight” rating to an “overweight” rating and set a $305.00 price objective on the stock in a report on Friday, January 15th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $318.56.

About SBA Communications

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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